Economie

 

         

Ethical bank or building society??

FRESH NEWS FROM THE MARKET

How can I find an ethical bank or building society?

 

What are the main ethical issues concerning banks & building societies?

Larger issues that banks and building societies need to consider when forming their ethical policies, and that customers can evaluate them on, range from international questions such as whether they lend to the arms trade and their stance on Third World debt, to policies on the environment and social issues. more ethical banking

 

Most people rely on bank accounts when it comes to organising their day to day finances. Recognised leaders in the ethical banking area including life insurance quotes

 

The Co-operative Bank introduced its ethical policy in 1992, based on private jet charter the concerns of its customers. It continues to be the only UK high street bank which gives its customers a say into how their money is used. It will not invest in any businesses involved in areas including the arms trade, abuses of human rights, genetic modification, intensive farming, climate change and tobacco while actively supporting areas like fair trade and social enterprise.


* Triodos Bank offers personal and business savers a range of services similar to most banks, but only invests in businesses with social and environmental contractor rates objectives - for example solar and wind energy, organic agriculture, nature conservation, education, healthcare, and culture, and projects in the developing world. Savers can target their money even further by choosing a partnership account where their money is used to finance a particular sector e.g. organic farming, or social housing projects. Triodos has offices in the Netherlands, Belgium, the UK and Spain.


* The Ecology Building Society uses the money deposited by savers to offer mortgages on properties and projects that help the environment, such as energy efficient housing or renovating derelict properties. It offers a range of savings accounts, mortgages and ISAs.

 

Other high street banks may have particularly good records in areas of concern to you eg the environment, so ask them about this. For an ethical comparison of UK banks and building societies see How ethical is your bank?. Building societies can also provide banking services. Some ethical investors prefer them to banks because of their mutual status (although many have de-mutualised, a number remain committed to their mutual status - their ability to be run by members for their joint benefit) because the majority of their business comes from lending on homes and not from international banking services. For more information visit www.eiris.org to download EIRIS' 'Guide to responsible banking (2003)'. French Lessons


 

 

Economie now subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.